PGS Expands Multiclient Coverage in the Sarawak North Luconia Province

Source Company Press Release
Company PGS Overseas AS, Petronas, SLB, TGS ASA
Tags Country: Malaysia, Upstream: Drilling Activity, Upstream News
Date May 30, 2023

PGS, together with JV consortium partners TGS and SLB have secured pre-funding to expand MultiClient 3D coverage in the prospective Sarawak Basin offshore Malaysia. The survey will cover approx. 6,800 sq kms and the Ramform Sovereign is scheduled to commence acquisition in June 2023 and complete in August.

The survey is the second phase of a multi-year contract awarded initially by PETRONAS in August 2020 to acquire and process up to 105,000 km⊃; of MultiClient 3D data over a 5-year period in the Basin. First phase of the Sarawak program was acquired in 2021 and covered 8,400 sq kms.

'The Sarawak basin comprises a proven petroleum system with many producing fields already present in the Central Luconia province. By acquiring MultiClient data with our Ramform vessels and GeoStreamer technology, PGS and partners will provide high quality regional scale seismic data that will improve understanding of the petroleum systems and allow for prospect level AVO analysis and leads mapping beyond the established offshore Sarawak producing assets,' says President & CEO in PGS, Rune Olav Pedersen.

'As the custodian of Malaysia's petroleum resources, Malaysia Petroleum Management (MPM), PETRONAS is actively enhancing seismic data sets in the country that will introduce new plays to be explored to our clients, especially in imaging the pre MMU play in the deep-water area of Sarawak Basin,' he added.

PGS announces contract awards and MultiClient projects as stock exchange releases if the contract has a value of $10 million or more, MultiClient projects with a duration of 2 months or more and strategically important contracts.

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